Rocket Companies (NYSE:RKT) Given New $14.00 Price Target at The Goldman Sachs Group

Rocket Companies (NYSE:RKT) had its price objective trimmed by The Goldman Sachs Group from $16.00 to $14.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on RKT. Barclays cut their price target on Rocket Companies from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut their target price on Rocket Companies from $19.00 to $14.00 and set an “underweight” rating on the stock in a research report on Monday, December 9th. Keefe, Bruyette & Woods decreased their price objective on shares of Rocket Companies from $11.50 to $10.50 and set an “underperform” rating for the company in a research note on Friday, January 3rd. Bank of America upped their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 14th. Finally, UBS Group reduced their price objective on Rocket Companies from $14.00 to $12.50 and set a “sell” rating for the company in a research note on Thursday, November 14th. Six analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.85.

Rocket Companies Price Performance

Shares of NYSE:RKT opened at $10.58 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 15.47 and a quick ratio of 15.47. The company has a market capitalization of $21.10 billion, a PE ratio of -66.13 and a beta of 2.42. Rocket Companies has a 1-year low of $10.44 and a 1-year high of $21.38. The business has a fifty day moving average price of $13.30 and a 200-day moving average price of $15.90.

Rocket Companies (NYSE:RKT) last released its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The company had revenue of $647.00 million during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm posted ($0.01) EPS. The firm’s quarterly revenue was down 46.2% compared to the same quarter last year. As a group, equities analysts expect that Rocket Companies will post 0.16 EPS for the current fiscal year.

Institutional Trading of Rocket Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James & Associates lifted its stake in Rocket Companies by 48.7% during the third quarter. Raymond James & Associates now owns 300,612 shares of the company’s stock worth $5,769,000 after purchasing an additional 98,397 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Rocket Companies by 324.4% in the 3rd quarter. Victory Capital Management Inc. now owns 67,161 shares of the company’s stock valued at $1,289,000 after purchasing an additional 51,336 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Rocket Companies in the 3rd quarter valued at approximately $1,071,000. XTX Topco Ltd purchased a new position in shares of Rocket Companies during the third quarter valued at $1,486,000. Finally, Entropy Technologies LP acquired a new stake in shares of Rocket Companies during the third quarter worth approximately $875,000. 4.59% of the stock is owned by hedge funds and other institutional investors.

About Rocket Companies

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.